Derivative Report India Research Nov 10, 2010: Angel Broking

Visit http://indiaer.blogspot.com/ for complete details �� ��


Comments
 The Nifty futures’ open interest decreased by 0.32%
while Minifty futures’ open interest increased by 3.45%
as market closed at 6301.55 levels.
 The Nifty Nov future closed at a premium of 31.90
points, against a premium of 23.60 points in the last
trading session. On the other hand, Dec future closed
at a premium of 59.50 points.
 The PCR-OI increased from 1.36 to 1.39 points.
 The Implied volatility of At-the-money options for
November series decreased from 16.50% to 15.75%.
 The total OI of the market is `1,63,971cr and the
stock futures OI is `51,044cr.
 Few liquid counters where cost of carry is positive are
INDIAINFO, ONMOBILE, GTL, NHPC and HINDZINC.




View
 FIIs have formed some short positions in the Index
futures. However, they were net buyers of `475cr in
the cash market segment.
 Yesterday, the 6300 put option added significant
open interest, while call options were not showing
any considerable changes.
 GMRINFRA has been underperformer in the
market. Significant short positions also exist in the
stock. Due to short covering, we may see some
positive move up to `57-58. Thus, it is advisable to
trade with positive bias with a stop loss of `53.
 FSL has its immediate support around `27. Some
buying was also observed in the stock. Thus,
positive move can be expected. Therefore, traders
can trade with positive bias around support for the
target of `31. Keep a stop loss of `25.50.